Finance News
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Egypt's foreign reserves increases to $34.224B in January
Egypt's cash reserves had increased to $34.002 billion at the end of December, compared to $33.53 billion at the end of November.
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Could Egypt depend less on 'hot money' as source to bolster its FX reserves in the short term?
Egypt's prime minister and finance minister asserted the government's intention to focus on attracting more direct investments to avoid shocks.
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Analysts name potentially successful areas for government IPOs
At the end of last year, the state adopted the “State Ownership Policy Document” to allow more room for private sector participation in economy.
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3 factors led CBE to fix interest rates: analyst
The Central Bank took advantage of the tools of the monetary policy, and the financial policy to implement and enhance market stability.
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Against all odds CBE maintains interest rates unchanged
In its first meeting in 2023, the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) decided to maintain unchanged the current rates.
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Egypt’s balance of payments hits $523.5M surplus by end of September
The CBE attributed the surplus to the growing revenues of tourism, Suez Canal as well as petroleum and non-petroleum exports.
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HoR ratify document of Egypt's accession to Development Bank of "BRICS" Bloc
The BRICS group comprises the major emerging economies, namely Brazil, Russia, India, China, and South Africa. It is headquartered in Shanghai, China.
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Immigration Min. denies preventing Egyptians abroad from withdrawing foreign currency in local banks
Rumors of imposing customs on jewelry, personal jewelry, and personal electronic devices is unfounded: minister.
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Egypt's current account deficit narrows by 20.2 percent in 1Q FY2022/2023
Egypt's balance of payments improved in the first quarter of the fiscal year.
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IMF downgrades forecast for Egypt’s real GDP to 4% in FY 2022/23
The report showed that the country’s real GDP growth for FY 2023/2024 is projected to reach 5.3%.
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Egyptian pound slips further against US dollar to 30.3 on Thursday
Since March last year, the Egyptian pound lost almost 50 percent of its value against the US dollar.
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Egypt’s Central Bank to issue dollar-denominated T-bills next week
The step reflects the Central Bank of Egypt’s desire to respond to investors’ expectations that interest rates will take an upward curve.
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Remco appoints financial advisor FinBi to assess its investments
Remco is an Egypt-based company that operates in tourism and entertainment projects development and construction.
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Discussed: benefits of Egypt's joining BRICS's new development bank
The Parliament approved an agreement that allows Egypt to join BRICS group's New Development Bank.
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Gov’t to announce soon plan of listing 20 companies on Bourse
This came after a cabinet meeting that aimed to review a number of economic files.
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Egyptian PM Madbouly heads to Senegal to participate in Dakar Financing Summit
Madbouly will participate on behalf of Egypt’s President Abdel Fattah Al-Sisi, in the summit which will run on 2 and 3 February.
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High interest rates carry multiple risks to future of investment in Egypt: EJB
The best way to improve the investment climate in the future is by announcing monetary policies that ensure the stability of policies.
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Egypt’s central bank to review key interest rates on Thursday, the first under IMF loan deal
Egypt’s annual urban consumer inflation continued to rise in December, recording 21.3 percent, the highest since the end of 2017.
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Egypt's Parliament endorses pact to join Brics Bank
Egyptian MPs welcomed the agreement, seeing in it a way to help reduce demand for US dollars.
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Egypt's net foreign assets climb by $2 billion in December
NFAs improved to a negative 494.3 billion Egyptian pounds from a negative 541.5 billion in November.